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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI ASIA MARKETS OPEN: Tsy Curves Reverse Course Ahead Wed CPI
MNI ASIA MARKETS ANALYSIS:Waiting For Next Inflation Shoe Drop
Key Inter-Meeting Fed Speak – Dec 2024
US TREASURY AUCTION CALENDAR: Avg 3Y Sale
Shekel Extends Losses, Israel's Budget Deficit Widens
Spot USD/ILS gains for the second consecutive day as a risk-off tone took hold across FX space. The rate topped out at 3.7118, a new monthly high, and last deals +287 pips at 3.7042. Should bulls manage to force a break above Jul 27/Jun 30 highs of 3.7300/08, they could take aim at Jun 2 high of 3.7551. On the downside, bears keep an eye on Aug 2 low of 3.6258, while the nearest firm support is provided by the 200-DMA at 3.5743.
- Israel's 12-month rolling budget deficit increased to 1.0% of GDP in July from 0.8% in June, according to the latest data from the Finance Ministry. Globes comments that "this latest figure brings Israel's 2023 budget to the threshold of the annual fiscal deficit target of 1.1% after just seven months. The trend suggests that the fiscal deficit will be significantly higher than the target approved in the budget by the end of the year."
- Looking ahead, Israel will report July trade balance and consumer confidence on Thursday.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.